Stock market crashes

Athens and its creditors are seeking a compromise solution over the issue of pension cuts, a well-informed European source has revealed to Kathimerini, while eurozone officials say the debate on the cuts remains open following Friday's Euro Working Group.

European Union states are close to a deal on rules for banks saddled with bad loans, according to diplomats and EU documents, with a plan that would give banks less time to build a backstop against new soured debt.

Eurozone banks have yet to recover from the 2008 financial crisis, and this year their shares dropped more than 20 percent.

Rating agency DBRS said it believes Greece runs a "moderate" risk of exiting the eurozone.

In a report issued late on Monday, DBRS warned that while the other 18 states that share the euro currency run a "low risk" of eurozone exit, including all other countries to emerge from a bailout program, Greece continues to face a moderate possibility.

Fertility rates in Greece, that is, the average number of children Greek women have, dipped from 1.5 to about 1.3 during its eight-year economic crisis (2008-2016), the International Monetary Fund (IMF) said in its World Economic Outlook, issued on Wednesday.

Greek banking shares are down sharply amid investor fears over lenders' needs to reduce their large stock of bad loans resulting from the financial crisis.

Institutional investors who attended 13th Annual Greek Roadshow in London last week appeared concerned at the prospects of the Greek economy and the current picture of the Greek stock market.

The government and its creditors discussed the country's fiscal situation and outlook and the implementation of the strategy to reduce the banks' non-performing loans in their first meeting after the completion of Greece's rescue packages last August, the institutions said in a joint statement on Friday.

Healthy liquidity profiles and well staggered debt maturities should shield most rated Turkish non-financial companies' credit quality from potential refinancing risks over the next 12-18 months, as domestic GDP growth slows, financial conditions tighten and the lira weakens, Moody's Investors Service said in a report on Sept. 11.

Greece could learn a lesson from the United States and deregulate its economy to push for stronger growth as it emerges from three international bailouts, US Commerce Secretary Wilbur Ross said in an interview broadcast on Tuesday.

The deterioration of the investment climate in emerging markets, along with the still fragile picture in Greece, despite its exit from the bailout program, and talk of government handouts ahead of the Thessaloniki International Fair are driving investors away from Greek securities, with bond yields climbing to three-month highs on Wednesday.